Saudi Arabia

  • Crude Oil
    Saudi Think on Cutting Light Crude Prices by 20-30 Cents

    Saudi Think on Cutting Light Crude Prices by 20-30 Cents

    Saudi Arabia, the world’s biggest oil well, could cut the costs of its light crude delivered to Asian countries in February on indicators of slowing demand ahead of the area’s peak refinery maintenance season, six trade sources stated. The original selling price (OSP) of flagship Arab Light crude in February may plunge by 20-30 cents per barrel, four of six…

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  • Crude Oil
    Amid Trade Worries On Prices Fell

    Amid Trade Worries On Prices Fell

    On Friday Oil prices fell, amid fears over demand as the U.S. China trade row casts its shadow over markets, though prices obtained some support from expectations of more OPEC production cuts. International benchmark Brent crude futures, were at $57.20 a barrel by 0324 GMT, down 18 cents, or 0.3%, from their earlier settlement. Global financial markets have been rocked over…

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  • Crude Oil
    World Worried About Somalia

    World Worried About Somalia

    Islamist army imposing a strict form of Islamic law are knocking on the doors of Somalia’s capital, the nation’s president fears his government could collapse, and now pirates have seized a super-tanker laden with crude oil heading to America from Saudi Arabia. Chaos, conflict, and humanitarian crises in Somalia are hardly new. It’s an impoverished, dry nation where a million people live as refugees,…

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  • Natural Gas
    Saudis Dig-In for Shale Battle as OPEC and Its Allies Extend Cuts to 2020

    Saudis Dig-In for Shale Battle as OPEC and Its Allies Extend Cuts to 2020

    Saudi Arabia, OPEC’s ruling producer, will keep doing the heavy lifting as the cartel and its allies have been all but pressured to extend their effort to counter the U.S. shale boom right into a fourth year. In a gathering on Tuesday, OPEC and ten non-members including Russia rubber-stamped the cartel’s earlier determination to continue manufacturing limits for an additional…

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